Tuesday, January 31, 2012

The Top-5 B2B Marketing Trends for 2012


Happy New Year! It is time again for our annual B2B Marketing "predictions". As every year, I asked the 25,000 marketing professionals in the B2B Technology Marketing Community on LinkedIn about their B2B marketing priorities for 2012.

And here are the results:

1 - Integration of social media
Social media remains the #1 topic in 2012. Social media has clearly evolved from the experimental stage to become an established marketing tactic and lead generator in 2011. Social media will continue to be more tightly integrated into traditional tactics such as email, webcasts, and content assets as an additional channel to broaden the reach of marketing messages and drive conversations with prospects.

2 – Content marketing 
Content marketing went mainstream in 2011. If you are not thinking about (and implementing) a strategy that puts your buyers (with their persona and industry driven pain points, preferences, and buying stages) in the center of your marketing efforts - and create compelling content as the currency of your engagement with buyers that influences decisions along the buying process - now is the time. Marketers often struggle to create magnetic content in the right formats and quantities. Sophisticated marketers will apply systematic ways to re-purpose existing content (for example produce webinars and derive white papers, articles and blog posts from the webinar transcript), create bite-sized content for the short-attention span executive, and design an efficient "content waterfall" approach that accelerates production times, quality, and consistency.

3 - Focus on lead quality
In the past, it was difficult to gauge lead quality and lead gen's impact on sales pipeline, so in the absence of real quality indicators, more leads were considered better. This flood of leads overwhelmed sales and distracted from the selling part of the job. And marketing received the blame for creating poor leads and wasting valuable selling time. Now with marketing automation platforms maturing it is becoming easier to filter out the sales-ready leads and keep low-scoring leads in nurturing program until they rise to the level of sales readiness.

4 - Targeted segmentation & messaging
With much "distraction" by social media, marketing automation and new marketing tactics, marketers are re-discovering fundamentals such as market segmentation. The benefits of segmentation are substantial. Segmentation is critical as vendors evolve from technology-focused business models to customer-needs driven product development, sales, marketing, and operations. Because prospects in defined, targeted segments are a better fit with the vendor’s offering, these prospects are more likely to buy, they close faster, produce bigger deals, and remain more loyal. In short, they are more profitable. For marketing, well-defined segments means more targeted messages and programs that resonate with buyers. This approach results in higher response rates, better engagements, shorter conversion cycles, and overall better return on marketing investment.

5 – Focus on marketing automation
The fastest rising category since last year's survey is marketing automation. As predicted last year, marketing automation has gone mainstream in 2011 as companies are taking their online campaigns, lead scoring, and email automation to the next level.

What marketing areas are becoming relatively less important in 2012?

As telling as the areas of increased focus are the areas B2B marketers consider less important in 2012:

  • Tradeshows
  • Marketing cost reduction & outsourcing
  • Lead quantity (see increased focus on lead quality in the top 10 list)
  • Push marketing tactics (see focus on pull marketing in the top 10 list)
  • Marketing asset management (while still important, many marketers seem to have a better handle on this problem with asset and content management tools)


What are your thoughts? Does this reflect the reality in your organization going into 2011? Which of these focus areas match your priorities, which don’t?

Thank you for following and contributing to this blog. I hope the New Year will treat you well and that you have much success in your 2012 B2B marketing efforts!

The Easiest Cross-selling Method

Everyone knows the importance of cross-sell and what this does to the bottom line of our financial institutions, but do you know the first place to start in putting an effective cross-sell program together? It begins with every employee within your company.

The best way for your employee to know and promote your products and services is if they themselves use them.  Other ways to encourage employees to get excited about cross-selling are:
  • Start with internal campaigns to encourage and educate your employees well in advance of your external campaigns.
  • Be sure to offer as-great or greater incentives for your employees than you offer your customers. After all, it’s your employees that take care of your customers.
  • Make the internal campaigns fun and exciting - friendly competition among coworkers, branches, and/or departments can really get people fired up.  If your company has ‘silos,’ mix up the silos with team members competing on different teams. (For an example – everyone with birthdays in January on one team, February another team, etc.)
Make it your goal that each employee is your financial institutions’ best customer. I promise you, if every employee uses each of the products and services your financial institution offers, your cross-sell ratios will be greatly impacted!


Best,
Melissa


People often say that motivation doesn't last. Well, neither does bathing - that's why we recommend it daily.  - Zig Ziglar


MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Monday, January 30, 2012

Today, We Reach a Milestone!

Today, the MarketMatch blog surpassed 50,000 page views!  Thank you for your continued interest.  We hope that you enjoy reading our rants about financial marketing as much as we enjoy sharing them.

To get you caught up on the last 50,000 page views, we thought it was appropriate to share some of our more popular posts:


Again, thank you for following us.  We share our opinions because we love bank marketing and we sincerely hope that our passion bleeds through in our words.

We also share our expertise as a "test drive" for your bank or credit union ... To demonstrate our understanding and knowledge of financial marketing ... In the hopes that one day, you'll require our marketing experience.




MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.



Saturday, January 28, 2012

Are business school rankings good for you?




Whether you're a prospective student, a recruiter, or a donor, use business school rankings with caution.



Since BusinessWeek launched them in 1988, and the Financial
Times developed a more international and comprehensive version a few years
later, business school rankings have become increasingly important in the
decisions and choices of MBA candidates, recruiters, and even donors.





The

Art or Audience; Chicken or Egg?

Doug McLennan, Editor of ArtsJournal, invited me to participate in an online debate on leadership in the arts. To kick things off, a panel of bloggers were asked to respond to the following prompt:

"Increasingly, audiences have more visibility for their opinions about the culture they consume. Cultural institutions know more and more about their audiences and their wants. Some suggest this new transparency argues for a different relationship between artists and audience. So the question: In this age of self expression and information overload, do our artists and arts organizations need to lead more or learn to follow their communities more?"

There has been vigorous debate on this issue, and to check out all the arguments, please visit the "Lead or Follow" online discussion here.

As for me, below is my response to the aforementioned prompt:

This week we examine the nature of leadership in the context of developing the most fruitful relationships with our audiences. Good relationships often strike a healthy balance between competing interests, and frequently this balance is forged over the course of many years. Arts organizations have relationships with their patrons, donors and communities, and those relationships are constantly evolving. As such, I find the framework of this debate limiting, as I would argue that great arts organizations lead and follow, and that we shouldn’t be asking if we should do more of one than the other, but instead ask if we are doing the leading or the following at the appropriate times.

There are moments when arts organizations must lead, and that leadership becomes a catalyst of great change. In 1948, the National Theater in Washington, DC closed its doors rather than integrate, and a twenty-four year old Zelda Fichandler decided it was time for the city to have a producing theater of its own. She was an early proponent of the idea that communities should reclaim ownership of their theaters, and now sixty-one years later, there are more than 1,900 non-profit regional theaters in cities across the nation. It took a leader.

There are also times when we follow. As of 2008, minorities accounted for 48% of all births in the United States. The U.S. Census Bureau projects that by 2050, the Asian and Hispanic population will double, African-Americans will increase and the white population will decline by 9%. In addition, the percentage of the population that is elderly will almost double. Look at your board of directors, staff, donors and audiences—do they reflect your community? Is the physical structure of your building suitable for a growing number of elderly patrons? As a field, we are behind the curve, and we have much to learn from following as our communities are changing faster than we are.

In terms of audience development, it is important for arts organizations to play both roles well. Our principal challenge as arts marketers is presenting art as a viable option for leisure activity. We have many barriers—ticket prices, transportation and parking, lack of arts education in our schools, inaccessible and aging infrastructure, etc. Not to mention, the abundance of free and easily accessible alternatives from our competition. A 2008 Survey of Public Participation in the Arts published by the National Endowment for the Arts (NEA) found that American arts audiences are getting older, and their numbers are declining at significant rates. In 2011, NEA Chairman Rocco Landesman delivered his now famous “supply and demand” speech from Arena Stage, indicating that demand for the arts is currently outpaced by supply, and suggesting that we consider pruning our numbers. We have a problem in this country. And if we have to produce more populist work in order to overcome potential barriers for first time patrons, I am fine with that. In fact, I am more than fine—it is what we should be doing.

Populist work is often, for lack of a better term, a gateway drug. Lure them in with a musical, roll out a comedy, put in a Broadway touring production. Do what it takes. Once they have an exceptional first time artistic experience, art becomes an option and then we work to get them addicted. From the perspective of an arts marketer, once a new patron walks through our doors via a “gateway” play, my job is to get them back. Once they have had a few experiences, my responsibilities shift. I now focus my attention on broadening their experiences and pushing their boundaries. And they will be ready. But forcing them to run before they crawl will end up in a disappointing experience for all.

Each patron has an individual relationship to an arts organization. We have a responsibility to offer up a balanced diet that feeds each artistic soul. For those with a developed palate, we lead, push, challenge and sometimes offend. And for those new to us, it is perfectly appropriate to offer up a piece of cake in order to get them to sample the exotic quiche.

Currently at Arena Stage, we have a tremendous production of John Logan’s Red directed by Robert Falls. In the script, painter Mark Rothko’s assistant Ken delivers a powerful speech, in which he says:

“You know, not everything has to be so goddamn important all the time! Not every painting has to rip your guts out and expose your soul! Not everyone wants art that actually hurts. Sometimes you just want a fucking still life or landscape or soup can or comic book.”

Remarkable arts organizations are more than just temples of art. We are relationship builders. Today we lead, tomorrow we may follow, but we take our cues from our communities, for whom we were built to serve.

Thursday, January 26, 2012

Communicating with your creatives

Creative departments and designers in general, are a major keystone in your end marketing product. Simply put...we turn thoughts into a visualization. We craft visions and concepts into a tangible "look" and "feel" that represents your brand.

The best way to get your project out of your head and onto a sheet of paper or a computer screen is to be able communicate those thoughts and goals with your designer. Easier said than done, I know, that is why I have listed a few tips to help in this process.

  1. What's the point?
    What is it that you are trying to say. In the end it is the most important part to any design. What is the message you are trying to get across? What is the end milestone for this particular piece/project?

  2. Who cares?
    Your audience dictates many things in a design. Be sure to communicate to your designer who the piece goes to. Who is going to pick this out in a stack of mail? You don't want to insult your target demographic/audience.

  3. Trust me, I got this.
    Creative folks are educated professionals in their field, similar to contractors in the construction field or mechanics in the automotive field. We know all about the latest design techniques, color theories, software, visual hierarchy, etc. and have a ton of resources to implement them. In general we have a pretty good idea of what is going to work and what isn't. Trust us we are professionals - we do this all of the time. Listen to your designers thoughts and advice.

  4. What's it made of?
    Its all about the details. Designers can better interpret your needs if they can visualize the facts. Let them know about: copy requirements, overall ideas, image requirements, colors, schemes, size, printing preferences, timeline, budget. Without an idea, rough content or organized thoughts, a designer has nothing to go on. We can make pretty pictures all day long but they mean nothing if the content is not on point. These are all the crucial things you'll need to tell your designer before starting a project. Do not leave out information that is important to you. You don't want to get to the final draft of an ad and remember about all of the stuff that needs crammed in at the last minute when your already out of room.

  5. Timing is everything.
    Allow ample time for the design process. Design is an artform and allowing enough time for the designer to take your concepts and put them in a visual form is imperative. Often times a designer goes through many different layouts before they find what works. If a rush design is needed, be sure to inform them prior to the start of the work so they can offer suggestions to fit your timeframe without compromising the art.

Using these basic guidelines will yield a better end product as well as smooth the creative process. You will get more out of your thoughts and visions by being able to communicate them better with your designer.

Until next time,
Jeremy

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community. We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Wednesday, January 25, 2012

Stop Trying to Measure Marketing ROI

For the past several years, CEO's and CFO's have been demanding greater accountability from the marketing function, and they have been pressing marketers to prove the value of their activities and programs. In this environment, return on investment (ROI) has become the "gold standard" for measuring marketing performance. In a recent study by IBM, 63% of CMO's said that marketing ROI will be the most important measure of their success by 2015.

Return on investment has been a widely-used business performance metric for at least eighty years. It's a concept that business executives are comfortable with, so it's understandable that CEO's, CFO's, and marketers want to use ROI to evaluate the performance of marketing investments. In addition, many marketing writers and pundits contend that it's possible to calculate the ROI of almost any marketing activity. Unfortunately, however, it's not always easy or even possible to determine an accurate ROI for some marketing activities or programs.

Some time ago, I wrote a series of posts that discussed some of the issues relating to the use of ROI to measure marketing performance. You can find those posts here, here, here, and here. The point I want to make in this post is that if you can't accurately attribute revenues to a marketing activity, you can't calculate an accurate ROI for that activity.

The "revenue attribution" issue is particularly challenging for B2B companies that have complex, multi-step marketing and sales processes and long demand generation cycles. The diagram below illustrates the problem. This type of diagram is known as a cause-and-effect (or a "fishbone") diagram. Cause-and-effect diagrams are used in process improvement work to identify all of the possible causes of a given problem. In this case, I'm using the diagram to identify all of the marketing and sales interactions that occurred between a company and a prospect who ultimately made a $100,000 purchase.


















In this hypothetical situation, the prospect was sent six lead generation offers and responded to the last of these offers. The prospect also:
  • Received and responded to several lead nurturing offers
  • Visited the company's website and viewed or downloaded several content resources
  • Participated in several meetings and other activities with the company's sales rep
The question is:  How do you attribute the $100,000 in revenue to the marketing and sales activities that played some role in the purchase decision? What percentage of the revenue do you attribute to the lead generation programs, to the lead nurturing program, to the website, and to the direct selling activities? In reality, there's no way to accurately and reliably attribute revenue in these kinds of circumstances. Even our hypothetical prospect probably couldn't tell us how much each marketing/sales interaction influenced his/her purchase decision.

In these circumstances, it can be extremely difficult, if not impossible, to determine the ROI of an individual marketing activity. Many marketing activities do not produce revenues on their own. They must be combined with other activities to generate revenues. When a marketing activity is one of several interdependent activities that are all required to entice prospects to buy, you can measure the ROI of the whole group of activities, but not of any one of those activities.

This does not mean that you can't measure the performance of individual marketing activities. For example, you can and should measure the performance of your lead nurturing program by comparing the conversion rates of prospects who are nurtured with those who aren't. There are many metrics that can be used to evaluate the performance of marketing activities and programs, but you can't always use ROI.

OK, the title of this post may be a little misleading. ROI should be used in marketing whenever and wherever it's appropriate. Just don't try to use it everywhere.

Monday, January 23, 2012

The Checking Account is Dead ... Long Live the Checking Account!

OK, checking is not "DEAD," but certainly evolving.


I've been seeing several blogs and e-discussion about the death of the checking account because of electronic evolution and I'd like to add my two cents.  To me, it's a matter of perspective.

I'm rarely a fan of renaming products and re-educating customers, but it may be time, my friends.


As true customer-centric marketers, think about how your "Checking Account" is used.  In the past, the paper check was the primary access tool for the account.  Well, we all know, it's not your parent's checking account any more.


People will always have a need for this account -- simply because they will always have a need to access their money.  We just need to change the way we look at it.


It is no longer a CHECKING account, it is an ACCESS account.


Think about it!  It's a simple idea with enormous ramifications.  


This basic change in product name shifts the focus to what the customer really needs the account for.  It also controls how our staff sell the products and services that go with it.  


Would you ask, "would you like checks with your checking account?"  Of course not, it's absurd.  Then why do we ask, "Would you like online banking with your checking account?"


As an ACCESS ACCOUNT, our front line team can now focus on, "How would you like to access your account?"  


When we increase the utilization, we increase our PFI status and, in turn, increase income.
MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.




What I really need is...

Remember when...

The iPad was not a word, the iPod was a glimmer in Steve Job's eye, "tivo" was not a verb, noun or an understandable word at all!

Yes...the innovators have changed the world.

The financial industry is changing...for the better or for more challenge will remain to be seen...but changing none the less.

Your challenge-- should you decide to accept it-- is to figure out what your client or marketplace "really needs."

BancVue started recent innovation with the "high rate checking, Bank of America came along with "Keep the Change", Huntington Bank added the "24-Hour Grace" and "Asterisk-Free Checking."

Each addressed a fundamental financial need...that was not directly on the surface or clearly spoken by the customer-- but a clearly defined need indeed.  Similar to Tivo, people did not know what they were missing.  To me that is a hallmark of a true innovation-- something not expressly defined as a need by people, but once it arrives, one wonders how they got along with out (just TRY a day without your iPhone!!)

Here are three keys to helping YOUR organization innovate...
  • Listen... Intently-- to you customers and your staff.  Their actions WILL show you what they need and what innovations may stick
  • Get up close and personal-- the front line of your organization is probably solving the issue right now (the 1st switch kit was born as a sight draft and an industrious teller!)
  • I think I can...I think I can-- the best innovations come from areas that are improbable and sometimes from a staff member that may be outside the realm of management...be open to the greatness of the idea!  Some of the greatest ideas started small and in a garage (think HP, Apple, Microsoft!!)
Innovation--- its AT YOUR FINGERTIPS!

Look for it...be open to it...seek it out.  It is there for the taking and your clients will love you for it!

Cheers!

Bruce

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.




Saturday, January 21, 2012

Hour glass theory




Citigroup calls it the Hour Glass Theory. As income
inequality increases, consumers are polarizing into two groups
– the few looking for high-end, highly differentiated and high value-added
products, and the many looking for value, and sometimes extreme value.





The middle, which was the staple target market of consumer
goods companies since at least the mid-twentieth century, has shrunk,

Friday, January 20, 2012

You should join us for the Brown Bag Lunch Sessions

We just finished the January installment of the Brown Bag Lunch Session. Today's topic "Top 5 Issues Facing Marketers in 2012" was moderated by Eric Gagliano and David Kreiman from Glenview State Bank was our guest speaker.

If you didn't join us today you missed out on a great session. This open dialogue had some very informative conversation going back and forth between speakers and the attendees. The 5 issues discussed were:
  1. It's a different sandbox: used to be you knew who was playing in your sandbox and with your toys simply by being there. Now everyone is playing in our industry.
  2. New rules require new thinking: the regulatory changes, easier/harder - right/wrong, are here to stay. We have to adapt.
  3. It's the customer, silly!: what makes us successful? The customer! We have to be relevant and add value to their equation!
  4. All for one, one for all: the bank/credit union is made of many parts, but to the customer, they want ONE source for many of their financial needs.
  5. Consistency: the most important ingredient to real estate? Location, Location, Location! The most important ingredient to marketing? Consistency, Consistency, Consistency!
We have recorded this session. If you are interested in receiving the audio from this Brown Bag, please click here.

The Brown Bag is scheduled the 3rd Friday of the month. The next Brown Bag is Friday, February 17, "Lessons Learned from a Frustrated Shopper."

Make it a great weekend,
Debbi

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community. We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Thursday, January 19, 2012

The Big Picture

One of the biggest reasons why I love graphic design is that each project is like putting together a puzzle. 

Sometimes I get all the pieces right away and I'm able to start and finish the project without any issues. Other times I might get a few pieces one day, then a few more, then something else entirely the next day, week, or month later.  These are the hard puzzles. Sometimes I think all the pieces fit perfectly, only to find that there's one more piece that needs to be squeezed in. Some rearranging is done, and just when I think it's right again, I find another piece, and then another. Eventually, the puzzle pieces have all been joined and an effective design remains. 

Occasionally though, the pieces just don't all fit together. While frustrating, these types of challenges are my favorite. They give me a chance to take a step back and reassess why and if I really need to include so many things. The four most common questions I re-ask myself are: 

1. What is the overall purpose of this piece? 
2. Who is the target audience? 
3. What elements are absolutely necessary to get the message across?
4. Am I more focused on a creative concept than on the overall goal? 

I find that answering these questions remind me of what I'm supposed to be accomplishing in my design. Sometimes the message is being lost in too much material and some words need cut. Other times I'm so convinced my design is good and I'm blinded by the fact that it might not be the most effective idea. No matter what the problem, by taking the time to reassess the pieces, I can put myself back on track to an impressive completed design.  

So, when your pieces aren't fitting together, take the opportunity to step back and look at the big picture. After all, that is the most important part.

Until next time,

Gail



MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community. We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.


Tuesday, January 17, 2012

Top 3 Reasons Webinars Work

Webinars are great, cost-effective tools to help market your financial institution, whether your target is increasing number of products for current clients or looking for new clients.  Remember though, it is important to not be sales-saturated in your webinar, but rather provide value through education on worthwhile topics to your target audience. Below are the Top 3 Reasons why Webinars work:
  1. They add value: A webinar creates value for the participant. It is an affordable way to create goodwill and customer loyalty, add value, and to stay top-of-mind.
  2. They position you as the go-to expert: If you are the presenter, you must be an expert, right? Another option is to bring in other experts to your webinar and offer them to your customers.
  3. They engage your audience: It is not enough these days to have a static website. People expect more. Webinars are a great tool that engages your audience and helps you forge a closer connection to your customers.
Webinars can market your financial institution, increase customer loyalty and develop new streams of revenue. Add a webinar (or two or three) into your next campaign and watch your campaign results grow.


Cheers to you,
Melissa


If computers get too powerful, we can organize them into committees. That'll do them in.
- Unknown

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Finding the Gaps in Your Marketing Content

Do you have all of the content you need to effectively market and sell your products or services? If you're like most companies I work with, there are probably a few "gaps" in your content. It's important to close these gaps as quickly as possible, but first you need to know what specific types of content are missing from your inventory.

To find the gaps in your marketing content, you need to perform a content audit, and the basic process for an audit is shown in the following diagram.











If you'd like to learn more about creating buyer personas, defining buying process stages, and identifying buying stage questions, please take a look at our white paper titled Two Powerful Ways to Make Your Marketing More Relevant. (To get a copy of this white paper, just send me an e-mail at ddodd(at)pointbalance(dot)com.) In this post, I want to focus on mapping existing content assets to buyer personas and buying stages.

The purpose of content mapping is to link each of your content assets (white papers, case studies, etc.) to one or more buyer personas and one or more buying stages. The mapping process is easier if done in two stages.

Map Assets to Buyer Personas

The first step is to create a buyer persona map that links your existing content assets to buyer personas. When mapping assets to buyer personas, the basic question you ask is whether an asset contains content that will appeal to a given buyer persona. Does the asset address issues that will be relevant to the buyer persona? Is the asset targeted for the persona's job title and industry? Does the asset focus on the specific problems and challenges facing the buyer persona?

I use a simple spreadsheet to create a buyer persona map. The first column of the buyer persona map contains the title or a brief description of the asset, and the second column is used to identify the asset type (a white paper, a case study, etc.). An additional column is used for each buyer persona. Each content asset is entered on a separate row in the map. The example below shows what the beginning of a buyer persona map would look like. In this example, no content has been mapped to Buyer Persona 4. If you complete your buyer persona map and have any buyer personas with no assigned assets, you obviously have a major gap in your content.

Map Assets to Buying Stages

The second step in the process is to create a buying stage map that links your content assets to specific stages in the buying process. When mapping assets to buying stages, the basic test is whether the asset contains content that answers the major questions that a potential buyer will have at that stage of the buying process.

In this step, you'll need to create a buying stage map for each buyer persona. Once again, I use a simple spreadsheet to create the buying stage maps, and a highly simplified version of a buying stage map is shown below. The first two columns in the buying stage map are the same as those used in the buyer persona map. In the buying stage map, an additional column is used for each stage of the buying process. To create a buying stage map, first select a buyer persona, then go to your buyer persona map and identify all of the assets that you have mapped to your selected persona. List those assets in your buying stage map and link each of those assets to one or more buying stages. Repeat this process until you have a buying stage map for each of your buyer personas.

When you complete this mapping process, you'll have a clear picture of where the gaps in your marketing content are and what kinds of content you need to fill the holes.

Monday, January 16, 2012

Partners or Competitors? My Favorite Frenemies

A little more than a week ago, the Washington Post in an extraordinary effort by a daily newspaper, published a series of articles on the state of theater in Washington, DC. As part of that series, Nelson Pressley, a frequent contributor for the Post, wrote an interesting piece on the financial status of the community. In it, he notes that in terms of capacity, the Washington theater community has grown tremendously over the past decade, while government funding has decreased significantly and according to theaterWashington, the annual theater attendance has remained the same since 1988. Mr. Pressley also cites that each theater that has expanded reports significantly increased audiences, and several have recently set all-time sales records.

In the Twittersphere, this article raised the same question that NEA Chairman Landesman asked in his now famous "supply and demand" speech given at Arena Stage in January 2011. Is there enough demand to support the increase in supply? This isn't a new question. It is something I questioned in this blog in 2008, and it is something that arts administrators discuss at every conference I have ever attended.

Setting aside for the moment the data from theaterWashington, on a positive note, I've seen some extraordinary things in the DC theater community in the past few years. I'd heard that the city can only support one or two major hits at any given time, however in the late fall of 2010, several theaters reported exceptionally strong attendance numbers for multiple shows running at the same time, including Oklahoma! and every tongue confess at Arena Stage, Candide at Shakespeare Theatre Company, Sunset Boulevard at Signature Theatre, and A Christmas Carol at Ford's Theatre. Well, there went that long held belief. When Arena Stage was considering a 13 week summer remount of Oklahoma!, I was told that the city could not support a long sit down production of a major musical in the summer as August was completely dead in these parts, and we couldn't succeed with Congress out of session and everyone heading to the beach. Surprise, surprise when not only Arena Stage experienced sold out houses at the height of the summer doldrums, but Woolly Mammoth Theatre Company did as well with their remount of Clybourne Park. As a community, I don't think there is anything we like better than being told we can't do something, and then proving that we can.

But to Nelson's point, we have a significant challenge ahead of us. In discussing his article on Twitter, playwright Stephen Spotswood asked me "how much do DC theater companies feel like they are in competition with each other?" Soon thereafter, Peter Marks, theater critic of the Washington Post, asked me to answer the question on the record. And this is my attempt...

Are DC theater companies in competition with each other?
Yes. In my opinion, to think otherwise would be naive. People have limited disposable income, especially during tough economic times. However, we are very lucky. Washington, DC is weathering the economic downturn better than any other city in the nation. Although we have had our challenges, we have a leg up on everywhere else, and perhaps this is why we have been able to expand during turbulent times. But in terms of how people are going to spend their leisure time, theaters are in competition with each other as much as they're in competition with movies, sports, other performing arts, museums, television, YouTube, video games, etc. To say that we aren't is simply untrue.

That being said, if I am in competition for discretionary spending dollars, I want it to be with another theater. Why? I can't get patrons to come to my theater if they don't see theater as an option in the first place. My primary responsibility as a theater marketer is to get people interested in the theater. To increase the stability of our community, we have to grow the base of theater patrons in our city. We don't have any other option, and to do that, we have to view ourselves as partners first and competitors second. If we focus on cannibalizing each other's audiences, it will be a losing battle. One theater may win one year, but inevitably it will lose the next. The only way everyone wins, including the city, is if we cultivate a growing audience for all of our theaters.

In responding to Stephen's question, I would also say that I tend to think that competition in the marketplace is good. When competition is stiff, it pushes everyone to do their best. To produce work of the highest quality. To provide the best customer service. To nurture the best local talent, and to present preeminent artists from around the globe. Please forgive the personal anecdote, but I know I have a more rewarding workout when there is a strong runner on the treadmill next to me. If there is no one by my side pushing the pace, I won't exert as much energy. I want to keep up. I want to compete. And because of our competitive spirit, DC audiences will get to experience the best efforts of all.

As I look into the new year, I resolve to elevate my gaze whenever possible from being exclusively on the theater where I work to the community as a whole. I hope that competition will improve us individually, and that working together will improve us as a whole.

Saturday, January 14, 2012

Green consumers, Canada?




It’s official as of early December 2011. Canada gave up on
its Kyoto commitments. The Canadian government has announced its intention to withdraw.
There was no way we were going to meet the targets anyway, so why suffer the embarrassment
of failure when you can quit in a huff and pretend it is someone else’s fault?



Green indicates countries that have ratified the treaty; Dark green are

Thursday, January 12, 2012

If It Ain't Broke...


Each time you run a new checking campaign, do you have the urge to sharpen your pencil, whip out a blank sheet of paper and START creating a new ad?

       Yeah, me too…

Here’s another valid questions:

Have you EVER run a successful checking campaign?

       Yeah, me too…

If it ain't broke … why do we have a constant urge to fix it?   Yes, the creative process is exciting and fulfilling and fun. 

Here are some very successful campaigns that companies have fought the urge to change for years and years…  Can you name the companies?
  • We’ll leave the light on for you (1988)
  • We try harder (1963)
  • Good to the last drop (1959)
  • Melts in your mouth, not in your hands (1954)
  • Snap, Crackle, Pop (1940’s)
  • Breakfast of Champions (1930’s)
  • When you care enough to send the very best (1930’s)
  • When it rains, it pours (1912)

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